Ryman Hospitality Properties, Inc. Announces Upsizing and Pricing of Common Stock Offering | …

🗝️ Key Points

• Ryman Hospitality Properties (RHP, Financial) has increased its common stock offering to 2.6 million shares at $96.20 each.
• The offering aims to raise funds for the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa.
• Leading financial institutions Morgan Stanley, BofA Securities, J.P.

• Ryman Hospitality Properties (RHP, Financial) has increased its common stock offering to 2.6 million shares at $96.20 each.
• The offering aims to raise funds for the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa.
• Leading financial institutions Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo are the main underwriters.

Ryman Hospitality Properties, Inc. (RHP) has announced an upsizing of its common stock public offering to 2.6 million shares, priced at $96.20 per share. The underwriters have also been granted a 30-day option to purchase up to an additional 390,000 shares. The offering is expected to close around May 21, 2025, and aims to raise funds primarily for the $865 million acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, Arizona.

The proceeds will cover roughly 29% of the acquisition cost, with the remainder financed through cash reserves and potential debt instruments such as revolving credit or unsecured financing. The company has ensured that the equity offering will occur prior to the acquisition, minimizing execution risks by securing necessary capital upfront.

Morgan Stanley, BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as joint book-running managers, enhancing the credibility of the offering, which is part of RHP’s strategic move to expand its luxury hotel portfolio. This financing approach may result in shareholder dilution but balances equity and debt, maintaining leverage ratios while pursuing corporate growth.

MORE IN INSIDE INVESTMENT NEWS

Levi Strauss raises sales guidance, says it will absorb some tariff costs for now

Published: Thursday, July 10, 2025 · 8:52 PM

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

Published: Thursday, July 10, 2025 · 1:54 PM